Sanctuary Advisors LLC Raises Stock Position in Pentair plc (NYSE:PNR)

Sanctuary Advisors LLC lifted its position in shares of Pentair plc (NYSE:PNR) by 101.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,933 shares of the industrial products company’s stock after acquiring an additional 6,024 shares during the quarter. Sanctuary Advisors LLC’s holdings in Pentair were worth $1,276,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Crewe Advisors LLC boosted its position in Pentair by 376.1% during the second quarter. Crewe Advisors LLC now owns 338 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 267 shares in the last quarter. Quarry LP boosted its position in shares of Pentair by 105.5% in the 3rd quarter. Quarry LP now owns 261 shares of the industrial products company’s stock worth $26,000 after buying an additional 134 shares in the last quarter. Family Firm Inc. acquired a new stake in Pentair in the 2nd quarter valued at about $48,000. Blue Trust Inc. increased its holdings in Pentair by 165.2% during the 3rd quarter. Blue Trust Inc. now owns 525 shares of the industrial products company’s stock valued at $51,000 after acquiring an additional 327 shares in the last quarter. Finally, True Wealth Design LLC raised its position in Pentair by 4,450.0% during the third quarter. True Wealth Design LLC now owns 637 shares of the industrial products company’s stock worth $62,000 after acquiring an additional 623 shares during the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.

Insider Buying and Selling

In related news, EVP Philip M. Rolchigo sold 3,588 shares of Pentair stock in a transaction on Friday, November 1st. The shares were sold at an average price of $99.67, for a total transaction of $357,615.96. Following the transaction, the executive vice president now owns 19,232 shares in the company, valued at approximately $1,916,853.44. The trade was a 15.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on PNR shares. Wolfe Research started coverage on shares of Pentair in a research note on Tuesday, November 26th. They set an “outperform” rating and a $125.00 price objective for the company. StockNews.com downgraded Pentair from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Barclays upped their price objective on Pentair from $108.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. The Goldman Sachs Group lifted their price objective on Pentair from $93.00 to $103.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, KeyCorp upped their target price on shares of Pentair from $110.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $109.38.

Pentair Stock Performance

Shares of PNR stock opened at $101.95 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.60. The firm has a market capitalization of $16.85 billion, a price-to-earnings ratio of 25.49, a price-to-earnings-growth ratio of 1.91 and a beta of 1.20. Pentair plc has a one year low of $68.08 and a one year high of $110.71. The company has a 50 day moving average price of $103.83 and a 200 day moving average price of $91.42.

Pentair (NYSE:PNR) last released its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Pentair had a return on equity of 20.48% and a net margin of 16.29%. The business had revenue of $993.40 million during the quarter, compared to the consensus estimate of $988.53 million. During the same period in the prior year, the firm posted $0.94 EPS. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that Pentair plc will post 4.28 EPS for the current year.

Pentair Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 7th. Stockholders of record on Friday, January 24th will be paid a $0.25 dividend. This is a positive change from Pentair’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Friday, January 24th. Pentair’s payout ratio is currently 23.00%.

About Pentair

Pentair plc provides various water solutions in the United States, Western Europe, China, Eastern Europe, Latin America, the Middle East, Southeast Asia, Australia, Canada, and Japan. The company operates through three segments: Flow, Water Solutions, and Pool. The Flow segment designs, manufactures, and sells fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, water disposal pumps, water supply pumps, fluid transfer pumps, turbine pumps, solid handling pumps, and agricultural spray nozzles for fluid delivery, ion exchange, desalination, food and beverage, separation technologies in the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, circulation and transfer, fire suppression, flood control, agricultural irrigation, and crop spray in residential, commercial, and industrial markets.